Accept payments in multiple currencies as if you had a local bank account. Convenient, right? Payoneer is designed for business transactions only.
Advantages of using Payoneer
Payoneer takes pride in advanced security to prevent fraud. You can collect payments and integrate your system, which allows automating payment initiation and administration.
They have partners all across the world. Like Airbnb, Amazon, or Adobe, so it's safe to say their solution is validated.
As a new, small business you will also benefit from Payoneer's huge network of over 4 million products and service providers around the world.
Oh and, they have a business blog, on which they write about the latest trends and give you tips and tricks on how to build a business. Super useful for a startup.
Disadvantages of using Payoneer
Users who don’t have an account can pay by debit card, credit card, or bank account, but Payoneer may charge extra depending on the type of payment.
There is also a currency exchange fee, and there may be fees for withdrawing money to your bank account.
The processing fee starts at 3%, which places Payoneer in the more expensive end, compared to competing services.
Be aware of the extra and hidden fees mentioned above.